Committed to Using Financial Resources Wisely
At the end of 2013 we worked hard to develop a Sustainability Plan with the hope that we could re-establish KSM as an important and valuable resource for the community. When we look back we feel tremendous gratitude and some amazement. The progress we have made to date is more than we ever expected. We have established a much stronger financial foundation and we have increased the value of the organization and facility to the community. Now we can focus more of our efforts and attention on our mission.
$2 million debt was completely paid off as of January 16th, 2018
We are incredibly thankful to the 50 donors that helped us eliminate our mortgage. This was an important step in our sustainability efforts. The $120,000 per year in interest payments that have been eliminated with the debt are now being used to help us achieve our mission.
$150,000 donation to our Reserve fund made by the Peter Gilgan Foundation
We are thankful for the vote of confidence and generosity of the Peter Gilgan foundation’s staff and board. This is an important step towards our goal of long-term sustainability.
Note: Not-for-profit experts suggest that 1/2 a year operational costs need to be in Reserve for long term sustainability.
$112,000 in funding over 2 years has been granted by the Halton Community Investment Fund
As part of the Community Safety and Well Being initiative we have been granted funds to develop a new process for engaging help for individuals and families in difficulty or distress. We will be able to support them through the efforts of the Neighbour Care Network Support Volunteers that have committed to coming alongside.
4 new Board members that bring a high level of commitment and experience to the organization
To find out more about our board and leadership go to www.kerrstreet.com and click on Leadership.
2019 REVENUE SOURCES
- Our total expenses for 2019 were approximately $1,684,239
- The value of food donations and volunteer hours are not included.
- Audited financial statements are available upon request.
Would you like more information about our finances?
if you would like to review our financial statements.